Friday, November 19, 2010

Harsanyi Nails It On GM IPO

David Harsanyi writes a brilliant column on the recent GM IPO, touted by Obama as a "success." To co-opt a phrase, I guess it depends on what you mean by "success."

He concludes:
"But when we undermine the rule of law, ignore property rights, create moral hazards and destroy organic job growth to save a company that had been terribly managed long before the recession, no one should be bragging about success."
I couldn't have said it better.

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